After Joe Biden removed Iranian-backed Houthis in Yemen from the terror watch list, Saudi Arabia and UAE have had enough. They are ignoring Biden’s call for ore oil, and may even be the first sets of country to drop the dollar for the Chinese Yuan for oil purchases. This is just another example of the damage Biden has caused to this country, it’s reputation, and it’s currency. Biden sucks up to terrorists like the Houthis and punishes our allies.
The amount of damage Joe Biden and the Democrats have done to this country in the last thirteen months can’t even fit into a picture.
Saudi and Chinese officials are in talks to price some of the Gulf nation’s oil sales in yuan rather than dollars or euros, The Wall Street Journal reported Tuesday, citing people familiar with the matter.
The two nations have intermittently discussed the matter for six years, but talks have reportedly stepped up in 2022, with Riyadh disgruntled over the United States’ nuclear negotiations with Iran and its lack of backing for Saudi Arabia’s military operation in neighboring Yemen.
Nearly 80 percent of global oil sales are priced in dollars, and since the mid-1970s the Saudis have exclusively used the dollar for oil trading as part of a security agreement with the U.S. government, according to the Journal.